Bahrain Kuwait Insurance (BKIC), a subsidiary of the Gulf Insurance Group (GIG), has closed the 2021 financial year with a turnover of 92.719 million BHD (244.47 million USD), an 8.5% increase compared to the 85.43 million BHD (222.72 million USD) posted in 2020.
The net profit grew by 9% to reach 4.152 million BHD (10.95 million USD) as at 31 December 2021. This increase is mainly driven by the 28% improvement of the underwriting result which stood at 4.466 million BHD (11.77 million USD).
The Bahraini insurer's assets totaled 232.363 million BHD (612.665 million USD) by the end of 2021, falling by 3% over one year.
With 41.457 million BHD (109.308 million USD), the company's shareholders' equity was up by 5% compared to 2020.
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